Funding arb · Price arb /

VVV

all VVV markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.027%

Price spread now: BingX against Phemex0.000%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1041.045% of the position

Long on Phemex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 3 days (all we have)+0.125%+$13 · spread now 0.000%, 7d avg −0.022%

Together, before fees+0.186%+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.022% dearer against Phemex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex VVVUSDT	32.105	0.0100	pay 0.0050% / 4h	3h 38m	$2.1M	$2.1M	50x
Short	BingX VVV-USDT	32.105	0.0100	get 0.0050% / 4h	3h 38m	—	$5.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.022%: $2.15
Slippage, 4 orders: −$82.45
Fee Phemex: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$102.3
Costs to cover: 1.045%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; BingX: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phemex live order book, 5 min ago	5.92 bp	42.5 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	0.16 bp	7.1 bp −$7	27.7 bp −$277	212.8 bp −$21.3K	591.6 bp −$295.8K

VVV on 33 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps VVV-USD	−0.0294%	1h	32.113	+0.025%	$147K	$1.2M	3x	as long as short
01 Exchange VVVUSD	−0.0104%	1h	32.020	−0.265%	$11K	$3K	3x	as long as short
Bybit VVVUSDT	−0.0029%	4h	32.106	+0.003%	$39.4M	$51.5M	20x	as long as short
RISEx VVV/USDC	−0.0015%	1h	32.028	−0.239%	$394K	$601K	5x	as long as short
Deribit VVV_USDC-PERPETUAL	−0.0015%	1h	32.097	−0.026%	$91K	$23K	10x	as long as short
Kalshi KXVVVPERP	0.0000%	8h	32.087	−0.056%	$109K	$6.6M	1.7x	as long as short
Phoenix VVV	0.0000%	1h	32.084	−0.065%	$56K	$298K	5x	as long as short
gTrade (Gains Network) VVV/USD	L +0.0004% / S −0.0004%	1h	32.122	+0.054%	$19K	—	150x	as long as short
Injective VVV/USDC PERP	+0.0033%	1h	32.820	+2.227%	$2K	$1K	5.5x	as long as short
Gate VVV_USDT	+0.0076%	4h	32.090	−0.047%	$10.8M	$7.3M	25x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter VVV	+0.0096%	1h	32.106	+0.002%	$2.2M	$5.9M	5x	as long as short
Lighter RH VVV	+0.0096%	1h	32.113	+0.025%	$478K	$1.6M	5x	as long as short
Nado VVV-PERP	+0.0100%	1h	32.115	+0.031%	$126K	$850K	3x	as long as short
Hyperliquid VVV	+0.0100%	1h	32.142	+0.115%	$74.5M	$54.9M	3x	as long as short
Aster VVVUSDT	+0.0100%	4h	32.112	+0.023%	$262K	$1.9M	10x	as long as short
Pacifica VVV	+0.0100%	1h	32.146	+0.128%	$192K	$189K	10x	as long as short
Binance VVVUSDT	+0.0100%	4h	32.116	+0.034%	$33.7M	$154.8M	25x	as long as short
OKX VVV-USDT-SWAP	+0.0100%	4h	32.127	+0.069%	$4.7M	$41.8M	20x	as long as short
MEXC VVV_USDT	+0.0100%	4h	32.133	+0.087%	$6.6M	$6.9M	50x	as long as short
KuCoin VVVUSDTM	+0.0100%	4h	32.122	+0.053%	$2.0M	$2.8M	20x	as long as short
Bitget VVVUSDT	+0.0100%	4h	32.105	0.000%	$5.8M	$8.9M	20x	as long as short
BingX VVV-USDTshort	+0.0100%	4h	32.105	0.000%	—	$5.4M	—
Backpack VVV_USDC_PERP	+0.0100%	1h	32.125	+0.062%	$124K	$333K	5x	as long as short
Variational Omni VVV	+0.0100%	4h	32.057	−0.149%	$2.1M	$187K	—	as long as short
Derive VVV-PERP	+0.0100%	1h	32.108	+0.011%	$2K	$2K	5x	as long as short
Phemex VVVUSDTlong	+0.0100%	4h	32.105	long leg	$2.1M	$2.1M	50x
Paradex VVV-USD-PERP	+0.0100%	8h	32.109	+0.012%	$3K	$106	5x	as long as short
Extended VVV-USD	+0.0104%	1h	32.113	+0.024%	$302K	$2.0M	5x	as long as short
Aevo VVV-PERP	+0.0104%	1h	32.091	−0.044%	$6K	—	3x	as long as short
edgeX VVVUSDC	+0.0104%	4h	32.068	−0.114%	$80K	$333K	10x	as long as short
BloFin VVV-USDT	+0.0154%	4h	32.108	+0.009%	$1.3M	$1.8M	25x	as long as short
GMX VVV/USD [ETH-USDC]	L +0.0178% / S +0.0120%	1h	32.106	+0.002%	$581K	—	100x	as long as short
Coinbase International VVV-PERP-INTX	+0.0320%	1h	32.098	−0.021%	$247K	$1.3M	25x	as long as short